A different world, a new customer

In just a few weeks, ingredients like yeast and flour have gone from being nonessential products in the shopping basket to being highly coveted products. Whether as a result of their sense of responsibility, boredom, gluttony or curiosity, many people have changed bakeries for their stoves. This is probably a temporary behavior, but not insignificant. After this experience, customers will be more familiar with these ingredients, their gastronomic possibilities and the value of the products which are made from them. An isolated event like this growth of the "compulsive" yeast buying may seem trivial, but this is not the only perceived change. The COVID-19 crisis could mark a major turning point in consumers’ behavior.

Brands have always had a special interest in knowing what people really want. Considering that clients are their raison d'être, this should not come as a surprise. Over the past few years, customers’ expectations seem to have become increasingly clear in the marketing sector: personalization, digitization, greater consumer participation, etc. Nevertheless, in the current digital, global and changeable context, we should never take anything for granted. The expansion of COVID-19 has made both some of these trends settle faster and new trends emerge unexpectedly.

What will post-coronavirus clients be like?

They will be more digital

Before the pandemic, most Spaniards already owned devices connected to the Internet, mainly smartphones. However, elderly people did not know how to use many of the digital services they offer (a phenomenon called the digital gap). What is more, although they were familiar with the use of technology, a significant number of consumers were suspicious of the use of some of these digital services. Confinement has ended up altering this reality. Many of these people now embrace technology, by using collaborative work apps, participating in video calls or accessing services such as online banking for the first time. The more these differences are reduced, the more impact technology will have on our society.

They will make more online purchases

E-commerce is one of the industries which has benefited positively from the current situation. According to a study carried out by the consumer business association Aecoc, 20% of people who had never shopped online has now started doing so as a result of this crisis. 17% also claims that they will continue to do so when the period of confinement ends. On top of that, the time we spend making online purchases has grown. This is reflected in the special edition of the report Digital 2020 carried out by We are Social. Specifically, 47% of worldwide Internet users has increased the time they dedicate to this activity. In Spain, although the figure is lower (25%), it continues to be substantial.

They will spend more time at home

A natural consequence of confinement measures is fear, especially the fear of contagion. As a general rule, people consider their houses as a safe place, but this idea becomes even stronger in a context of a global pandemic. In addition to this, some experts already pointed out to the cocooning trend (the phenomenon of finding pleasure spending time at home) before this crisis arose. Therefore, we can conclude that houses will become crucial in the future. In all likelihood, this new paradigm will also set a new way of consuming.

They will be more demanding

Fear can also lead to consumers being more demanding by paying special attention to the measures that brands take in relation to infection prevention and cleanliness. The study The Consumer and COVID-19 conducted by Capgemini shows that 77% of global consumers will be more cautious regarding cleaning, health and safety issues. Furthermore, 62% will choose brands that show higher levels of product safety.

They will have other priorities

The data provided by Nielsen shows that beauty products sales have fallen 4.6% (particularly makeup and solar products), while those of hand soaps and gloves have increased by 242% and 193% respectively in recent weeks. This scenario of priorities does not only respond to a change in the preferences and concerns of customers. Many businesses have been forced to stop their activity, so customers can now only purchase certain products online. These experiences are having an impact on new purchasing habits. Citizens are now shopping in a more planned way and focusing more on essential products. Likewise, a significant percentage of the population will have a lower purchasing power due to the new economic post-coronavirus context.

Last Tuesday, Alberto Díaz Dominguez, Marketing Director at Infiniti Spain and Professor of our Master’ Degree in Automotive Industry Businesses and our EMBA, offered a webinar about the keys to the recovery of the marketing and communication activity. He talked about some of these changes in consumer profiles and other important issues for the sector such as rethinking the budget, redefining strategies or setting new objectives. We recommend watching it to all those readers who want to delve further into this matter.

The CEU IAM Buisness School also offers an Executive MBA which is strongly aligned with the challenges that our society is facing currently. One of its main objectives is to prepare its students to successfully deal with processes of change and be able to transform the challenges into competitive advantages. Ask for further information with no obligation on your part!

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